Keep Technologies, a groundbreaking company in the realm of financial technology, has made a significant leap by emerging from stealth mode and unveiling details about its initial financing. The startup has secured a substantial $71-million credit facility through Treville (formerly CoVenture), along with an additional $4-million venture debt line provided by Silicon Valley Bank.
Tribe Capital spearheaded an impressive equity financing round amounting to $33 million, joined by prominent investors including Rebel Fund, Liquid 2, Cambrian, Assurant Ventures, Upshot, Vera, Data Tech, 305 Ventures, Valyrian, Brainstorm, and Collaborative. This substantial financial backing underscores the confidence investors have in Keep Technologies’ vision and potential for reshaping the small business banking landscape.
Oliver Takach, CEO of Keep Technologies, expressed his enthusiasm about the company’s mission stating:
“We’re building the financial operating system that Canada’s small businesses actually need—one that provides the technology, tools, and services to help them thrive.”
Takach’s ambition to create an innovative platform tailored specifically for Canadian small businesses reflects a deep understanding of the unique challenges these enterprises face in managing their finances effectively.
Positioning itself as a Canadian counterpart to well-known US-based entities like Brex, Mercury ,and Ramp that cater to small businesses’ needs; Keep Technologies offers an integrated solution encompassing business credit cards, automated expense management systems,and access to global banking services. Noteworthy is its provision for businesses to apply for up to $1 million in financing—a feature designed to support their growth aspirations efficiently.
CEO Oliver Takach brings valuable experience from his involvement with two Y Combinator-backed firms before co-founding Keep in 2023. His firsthand encounters with inadequacies within the Canadian business banking sector motivated him to establish Keep as a transformative force. In response to what he perceived as a “broken
” system,Takach emphasized: “Traditional banks have failed Canadian entrepreneurs for too long.”
The diverse team at Keep includes seasoned professionals from industry giants such as Meta,Robinhood ,Stripe ,Venmo,and other major players—each contributing their expertise towards realizing the company’s ambitious goals.Openly critical of traditional banking institutions,Takach reiterated:
“We’re building the financial operating system that Canada’s small businesses actually need – one that provides the technology,tolls,and services they require.”
Despite facing competition from other players like Float Financial backed by Silicon Valley Bank,Takach remains optimistic about Keep’s positioning within the Canadian market.He highlighted that while there are contenders vying for attention,the landscape is less saturated compared to its American counterpart—an advantage he aims to leverage.Developments on open banking,payments modernization,and enhanced features are part of Keep’s roadmap enabled by this recent funding injection.
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